STXNEWS LATAM-Brazil's Gafisa sees launches more than double in 1st qtr

Tue Apr 22, 2014 10:24pm EDT

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Brazilian homebuilder Gafisa SA launched 535.4 million reais ($238.5 million) worth of new projects in the first quarter of 2014, the company said in a securities filing late Tuesday, up from 196.7 million reais in the same period a year earlier.

The company said it plans to launch between 2.1 and 2.5 billion reais worth of new projects in 2014.

Total contracted sales in the first quarter reached 239.3 million reais, up from 107.9 million reais a year earlier, the company said. ($1 = 2.245 Brazilian reais)

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